The Czech newspaper Hospodarske noviny reports today that CEZ may speed up payment for eight regional distributors recently acquired from the state. The original schedule called for four installments spread over 2003-2006, but the paper reports that CEZ might pay the entire CZK 21 bil. owed (CZK 17 bil. as a cash payment for the distributors, and CZK 4 bil. in the form of capital gains tax on the sale of a 66% stake in CEZ’s transmission-grid operator to the state) this year. A decision will probably be taken by the Supervisory Board on Monday, May 5.
We see the report as neutral.
Jiri Soustruznik